Solar vitality firm Nordic Solar, which operates in 12 European nations, has secured a financing settlement for one among its photo voltaic initiatives on the Danish island of Funen.
Nordic Solar has signed a credit score settlement with Jyske Bank for an unspecified three-digit million DKK quantity, legitimate for 20 years.
The settlement covers Nordic Solar’s Højby venture, which shall be related to the grid in the summertime of 2023.
The plant is now a completely operational renewable vitality plant of 32 MW, which is roughly equal to the electrical energy consumption of 11,000 European households, the corporate wrote in a press launch.
“We are more than happy to have reached an settlement on long-term financing. This is a crucial step in direction of rising photo voltaic vitality manufacturing and reveals that financing vitality infrastructure initiatives is a crucial a part of inexperienced transition,” stated Holger Bang, Nordic Solar’s chief funding officer.
A big a part of the park’s manufacturing is already secured, as most of it’s offered via energy buy agreements, PPAs.
Four PPAs have been signed with Danish corporations for the Højby photo voltaic farm, every containing an settlement to buy a portion of the electrical energy for a interval of as much as 11 years.
Jyske Bank can be happy to have entered right into a credit score settlement with Nordic Solar, because the financial institution has set concrete objectives for financing vitality crops.
“Jyske Bank has nice ambitions to contribute to the inexperienced transition, and the financing of this plant is one other step in direction of our objective of supporting 5 TWh by 2025,” stated Claus Simonsen, head of renewables Jyske Bank vitality.
Nordic Solar got here out of 2023 considerably bruised, with each losses and declining income.
Nikolaj Holtet Hoff, CEO of the corporate, instructed EnergyWatch that Nordic Solar will go from 372 MW in operation to double that quantity this yr.
“And now we have 1.7 GW on the best way over the following few years. So we see very sturdy development forward of us,” he stated earlier this yr.
(English enhancing by Kristoffer Grønbæk)